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Posted by: Dean Kimoto
There’s been a lot of articles lately about rising mortgage rates causing hardship for home owners with mortgages. I had several conversations last week on this topic with people who know (or found out) I’m a mortgage broker. There’s a simple answer. If you’re in an adjustable or variable rate mortgage and the rising rates […]
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Very strong employment report for October Today’s Labour Force Survey for October was surprisingly strong, boosting wage inflation to an eye-popping 5.6% year-over-year pace. While good news for the economy, this is terrible news for the inflation fight–just when the Bank of Canada eased its foot on the brakes. The two-year and five-year Government of […]
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The bank of Canada slowed the pace of monetary tightening The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings […]
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The following article was posted by one of my lenders, First National, and has insights into current housing trends. Enjoy! Residential Mortgage Commentary – Misleading averages Since interest rates started climbing back in March there has been a lot said about declining home prices in Canada. Broadly speaking, market watchers have been forecasting a 20% […]
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Please Note: The source of this article is from SherryCooper.com/category/articles/ Tiff Macklem and Jay Powell Are Emulating Paul Volcker–I Was Volcker’s Special Assistant. Forty-Three Years Ago, I Was Fed Chair Paul Volcker’s Special Assistant Inflation appears to be book-ending my career. I started my work as an economist in the Research Division of the Federal Reserve Board […]
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One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First things first, a second mortgage refers to […]
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Inflation Cooled Again in August, But Higher Rates Still Coming Canada’s headline inflation rate cooled again in August, even a bit more than expected. The consumer price index rose 7.0% from a year ago, down from 7.6% in July and a forty-year high of 8.1% in June, mainly on the back of lower gasoline prices. […]
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Published by the DLC Marketing Team, September 13, 2022 The Real Deal about Transfers and Switches. Most people who are thinking about a transfer or switch want to take advantage of a lower interest rate or to get a new mortgage product with terms that better suits their needs. Up for Renewal? If your mortgage […]
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Housing Soften Again in August The full effects of the most recent rate hikes have not yet manifested. Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in August, albeit at a slower pace. Home sales recorded over Canadian […]
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Job Market Weakens As Economy Slows The August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The Canadian economy shed 39,700 jobs in August, missing market expectations of a 15,000 rise and bringing cumulative declines since May 2022 to 113,500 […]
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